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London-listed iron ore mining company Ferrexpo said the arrest of one of its largest shareholders in France had nothing to do with the FTSE 250 deal.
Kostiantin Zevago, a businessman and former Ukrainian parliamentarian, was arrested on Tuesday by French police on an international arrest warrant in the exclusive ski resort of Courchevel.
Mr Zhevago, who has been accused of embezzling more than $100 million (£83 million), faces the first stage of an extradition hearing later this week. An arrest warrant was issued by Ukrainian authorities.
In a brief statement on Thursday, Ferrexpo said a non-executive director had been arrested, but said the arrest had nothing to do with the company itself. “The company is aware that Mr. Jebago has been arrested by French authorities in France and is aware that this relates to matters unrelated to Ferret Expo,” the company said.